Jefferies Financial Group Issues Pessimistic Forecast for SolarEdge Technologies (NASDAQ:SEDG) Stock Price

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) had its price target dropped by equities researchers at Jefferies Financial Group from $12.00 to $9.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an "underperform" rating on the semiconductor company's stock. Jefferies Financial Group's price objective indicates a potential downside of 28.84% from the company's current price.

A number of other brokerages also recently commented on SEDG. Wells Fargo & Company dropped their target price on shares of SolarEdge Technologies from $20.00 to $19.00 and set an "equal weight" rating on the stock in a research note on Thursday, March 27th. Northland Securities lowered SolarEdge Technologies from a "market perform" rating to an "under perform" rating and set a $15.00 target price for the company. in a report on Thursday, February 20th. Citigroup restated a "sell" rating and issued a $9.00 price target (down from $12.00) on shares of SolarEdge Technologies in a report on Wednesday, January 8th. Canaccord Genuity Group boosted their target price on SolarEdge Technologies from $18.00 to $19.00 and gave the stock a "hold" rating in a research note on Thursday, February 20th. Finally, Susquehanna lowered their target price on shares of SolarEdge Technologies from $17.00 to $12.00 and set a "neutral" rating for the company in a research note on Monday. Ten research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, SolarEdge Technologies currently has a consensus rating of "Hold" and a consensus price target of $21.53.

SolarEdge Technologies Trading Up 1.3 %

SEDG stock traded up $0.16 during midday trading on Tuesday, reaching $12.65. The company's stock had a trading volume of 1,827,501 shares, compared to its average volume of 4,202,820. The firm has a market capitalization of $746.78 million, a price-to-earnings ratio of -0.41 and a beta of 1.63. SolarEdge Technologies has a 1 year low of $10.24 and a 1 year high of $64.04. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.46 and a current ratio of 1.95. The stock has a fifty day simple moving average of $15.67 and a two-hundred day simple moving average of $15.20.

Insider Transactions at SolarEdge Technologies

In related news, Chairman More Avery purchased 30,000 shares of the company's stock in a transaction dated Tuesday, March 4th. The shares were acquired at an average cost of $13.70 per share, for a total transaction of $411,000.00. Following the transaction, the chairman now owns 274,478 shares of the company's stock, valued at $3,760,348.60. This trade represents a 12.27 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.67% of the company's stock.

Hedge Funds Weigh In On SolarEdge Technologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SEDG. Janney Montgomery Scott LLC acquired a new position in shares of SolarEdge Technologies during the fourth quarter valued at approximately $227,000. Grantham Mayo Van Otterloo & Co. LLC grew its stake in SolarEdge Technologies by 14.9% during the 4th quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 4,953,698 shares of the semiconductor company's stock valued at $67,370,000 after acquiring an additional 641,915 shares in the last quarter. Headlands Technologies LLC acquired a new position in SolarEdge Technologies in the 4th quarter valued at approximately $257,000. Assenagon Asset Management S.A. increased its stake in shares of SolarEdge Technologies by 182.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 874,113 shares of the semiconductor company's stock worth $11,888,000 after acquiring an additional 564,490 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in SolarEdge Technologies by 38.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 520,928 shares of the semiconductor company's stock worth $7,085,000 after purchasing an additional 144,733 shares during the last quarter. 95.10% of the stock is owned by institutional investors.

SolarEdge Technologies Company Profile

SolarEdge Technologies, Inc, together with its subsidiaries, designs, develops, manufactures, and sells direct current (DC) optimized inverter systems for solar photovoltaic (PV) installations in the United States, Germany, the Netherlands, Italy, rest of Europe, and internationally. It operates in two segments, Solar and Energy Storage.